Emerald Holding has acquired MJBiz, the event producer and content platform serving the wide range of companies operating in the cannabis industry. Emerald paid $120 million as initial consideration upon closing of the transaction, with potential future payments contingent on the performance of MJBiz through 2022.
Founded in 2011, MJBiz produces MJBizCon, the oldest and leading B2B cannabis trade show in America, the Emerald Conference and related media brands including MJBizDaily, Hemp Industry Daily and MJBiz Magazine.
In 2021, MJBiz’s revenues were approximately $27 million, which were near pre-pandemic levels. MJBizCon featured more than 1,200 exhibiting companies and 27,000 attendees, including over 18,000 paid registrations, at the October 2021 event.
The MJBiz platform delivered 38% compound annual revenue growth in the three years prior to the pandemic (2017-2019). In addition to operating the cannabis industry trade show, the MJBiz brand is a source for actionable business intelligence in the cannabis industry.
MJBiz management, including CEO Chris Walsh, Senior Vice President of Events and Sales, Jess Tyler, and Senior Vice President of Content and Audience Development, Pam Moore, will continue to lead the day-to-day operations of the business. MJBiz co-founders and Board members, Cassandra Farrington and Anne Holland, will continue to consult with the business.
Hervé Sedky, Emerald’s President and CEO, said, “We have long admired MJBiz’s sterling reputation for being the most trusted event and content producer serving the business side of the cannabis and hemp industries and their respective participants. MJBiz’s leading event and content portfolio coupled with their 365-day engagement platform, which connects the entire cannabis supply chain, will diversify our collective product offerings, enhance our growth profile and enable us to deliver even greater value to our customers over the long term.”
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